I just heard about this on the news and thought it might make a good conversation starter for you guys: Quote: Wheels of Fortune A vicious cycle in the used-car business Sign, drive, default, repossess and resell — that’s the game at Buy Here Pay Here dealerships. In this little-known but fast-growing corner of the auto market, dealers command premium prices for road-worn vehicles and finance the sales at interest rates that can top 30%. In a kind of financial alchemy, they have found a way to turn clunkers into cash cows and make money off the least creditworthy customers: the millions of Americans who are stuck in low-paying jobs, saddled with debt and unable to qualify for conventional auto loans.

további részletek:
A vicious cycle in the used-car business